AGOA Forum starts 2 November

Yolanda Nel
    - 2023-10-31 00:00:00
The significance of US and African economic ties and the upcoming African Growth and Opportunity Act (AGOA) Forum taking place from 2 to 4 November, is a pivotal event aimed at enhancing trade and development between the United States and Sub-Saharan Africa.
Assistant U.S. Trade Representative for Africa, Constance Hamilton, emphasized the Biden administration's commitment to fostering new economic engagement with African nations. She highlighted the administration's goal of achieving shared, inclusive, and sustainable economic growth in Africa. “AGOA serves as a cornerstone of the United States' economic engagement program with African countries. AGOA is a legislation designed to promote trade and economic cooperation between the U.S. and eligible Sub-Saharan African nations,” she said.
A vehicle for development
The AGOA program extends its impact beyond trade by enhancing diplomatic relations, alleviating poverty, and addressing key issues in Sub-Saharan Africa. The program encourages the development of a diversified economy and value addition in the African countries. This approach includes processing primary goods and focusing on value addition to boost local industries and supply chains.
During an online discussion on the upcoming forum, Hamilton also touched upon the importance of African nations creating strategic plans to maximize the utilization of AGOA. “Governments and civil society should work together to raise awareness about AGOA's potential and create utilization plans. The U.S. government is actively working to provide educational resources and workshops to help businesses understand and leverage AGOA effectively.”
The 20th AGOA Forum will take place in Johannesburg and the theme of this year’s event is partnering to build a resilient, sustainable, and inclusive AGOA to support economic development, industrialization and quality job creation.